The great majority of those publishers never registered. Out of the millions—yes, millions—of domains that flowed through Readability, just over 2,000 registered to claim their money. As a result, most of the money we collected—over 90%—has gone unclaimed.
It has been clear for a while that the idea wasn’t going to take off. Hats off to Readability for trying something different though. They’ve received more abuse than they’ve deserved for taking a risk and innovating. I for one hope that they keep experimenting.